Manhattan DA Calls for Increased User Protections on Mobile Payment Apps

In response to a surge in scams and crimes, Alvin Bragg urges Venmo, Zelle, and Cash App to implement measures such as additional passwords, transfer limits, and enhanced account monitoring.

Manhattan District Attorney Alvin Bragg has issued letters to mobile payment apps Venmo, Zelle, and Cash App, urging them to increase user protections in light of a surge in scams and crimes exploiting these platforms.
Bragg's letters highlight incidents where unauthorized users have gained access to unlocked devices and drained significant sums of money from bank accounts, made purchases, and used financial information from the apps to open new accounts.
The DA has suggested several security measures, including the addition of a second password for the apps, lower limits on daily transfers, wait times and secondary verification for large transfers, and better monitoring of accounts for unusual activity.
Responses from the companies indicate a commitment to customer safety and security, with measures such as sophisticated fraud detection tools, manual investigations, and partnerships with law enforcement agencies already in place.
Bragg's call for increased security comes as payment fraud incidents have reportedly increased by 88% since December 2021, with a study showing that 45% of consumers are worried about data breaches.